Key Points
- Rithm Capital director David Saltzman sold 80,922 shares on May 20 at an average price of $9.25, totaling about $748,528.50. After the sale, he retained 44,248 shares, marking a 64.65% reduction in his position.
- The company recently reported mixed quarterly results, posting EPS of $0.51 versus expectations of $0.53, while revenue of $1.38 billion came in above estimates. Analysts still expect Rithm Capital to earn 2.27 EPS for the full year.
- Rithm Capital continues to offer a high dividend yield, paying a quarterly dividend of $0.25, or $1.00 annualized, which works out to a 10.8% yield. The stock also carries a “Moderate Buy” consensus rating with an average target price of $13.61.
Rithm Capital Corp. (NYSE:RITM - Get Free Report) Director David Saltzman sold 80,922 shares of the stock in a transaction dated Wednesday, May 20th. The shares were sold at an average price of $9.25, for a total value of $748,528.50. Following the completion of the sale, the director directly owned 44,248 shares of the company's stock, valued at approximately $409,294. The trade was a 64.65% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this link.
Rithm Capital Price Performance
Rithm Capital stock opened at $9.27 on Friday. The stock's 50 day moving average is $9.59 and its 200 day moving average is $10.50. Rithm Capital Corp. has a one year low of $8.43 and a one year high of $12.74. The firm has a market cap of $5.17 billion, a P/E ratio of 8.50 and a beta of 1.17. The company has a debt-to-equity ratio of 4.02, a current ratio of 1.28 and a quick ratio of 1.28.
Rithm Capital (NYSE:RITM - Get Free Report) last released its earnings results on Tuesday, April 28th. The real estate investment trust reported $0.51 earnings per share for the quarter, missing analysts' consensus estimates of $0.53 by ($0.02). Rithm Capital had a net margin of 14.44% and a return on equity of 19.48%. The firm had revenue of $1.38 billion for the quarter, compared to analyst estimates of $1.27 billion. As a group, research analysts expect that Rithm Capital Corp. will post 2.27 EPS for the current year.
Rithm Capital Announces Dividend
The firm also recently disclosed a quarterly dividend, which was paid on Thursday, April 30th. Stockholders of record on Monday, April 6th were given a $0.25 dividend. The ex-dividend date of this dividend was Monday, April 6th. This represents a $1.00 annualized dividend and a dividend yield of 10.8%. Rithm Capital's dividend payout ratio (DPR) is 91.74%.
Institutional Trading of Rithm Capital
Several institutional investors and hedge funds have recently modified their holdings of the stock. Curi Capital LLC boosted its position in shares of Rithm Capital by 0.7% during the second quarter. Curi Capital LLC now owns 120,262 shares of the real estate investment trust's stock valued at $1,358,000 after buying an additional 829 shares during the last quarter. Geneos Wealth Management Inc. raised its position in Rithm Capital by 14.3% in the 1st quarter. Geneos Wealth Management Inc. now owns 7,031 shares of the real estate investment trust's stock valued at $81,000 after buying an additional 881 shares during the last quarter. City Holding Co. lifted its stake in Rithm Capital by 35.1% during the 4th quarter. City Holding Co. now owns 3,850 shares of the real estate investment trust's stock valued at $42,000 after acquiring an additional 1,000 shares in the last quarter. Westbourne Investment Advisors Inc. boosted its holdings in Rithm Capital by 1.8% during the 4th quarter. Westbourne Investment Advisors Inc. now owns 55,500 shares of the real estate investment trust's stock worth $605,000 after acquiring an additional 1,000 shares during the last quarter. Finally, Fort Sheridan Advisors LLC boosted its holdings in Rithm Capital by 0.3% during the 4th quarter. Fort Sheridan Advisors LLC now owns 367,164 shares of the real estate investment trust's stock worth $4,002,000 after acquiring an additional 1,000 shares during the last quarter. 44.92% of the stock is owned by hedge funds and other institutional investors.
Analyst Ratings Changes
Several equities analysts have recently weighed in on RITM shares. JonesTrading reiterated a "buy" rating and set a $13.50 price objective on shares of Rithm Capital in a report on Tuesday, April 28th. Citigroup restated an "outperform" rating on shares of Rithm Capital in a report on Wednesday. Citizens Jmp increased their target price on Rithm Capital from $12.50 to $13.50 and gave the stock a "market outperform" rating in a report on Wednesday. Wedbush reduced their price target on shares of Rithm Capital from $14.00 to $12.50 and set an "outperform" rating for the company in a research report on Friday, May 1st. Finally, Royal Bank Of Canada decreased their price target on shares of Rithm Capital from $14.00 to $13.00 and set an "outperform" rating for the company in a research note on Friday, May 1st. Nine equities research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average target price of $13.61.
Read Our Latest Research Report on Rithm Capital
Rithm Capital Company Profile
(
Get Free Report)
Rithm Capital Corporation is a specialty finance company that originates, acquires and manages structured credit investments collateralized by real estate assets in the United States. The company focuses primarily on senior floating-rate loans secured by multifamily, commercial, industrial and single-family rental properties, aiming to deliver attractive risk-adjusted yields through a diversified portfolio of floating-rate real estate debt.
In addition to senior loans, Rithm Capital invests in residential mortgage-backed securities, including agency and non-agency pools, as well as other real estate-related credit instruments.
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